Revenue from import-export drops by 4 percent

Revenue from import-export dropped by four percent in March, Maldives Customs Service revealed.

According to official statistics, import goods last March were valued at MVR 4.1 billion, a nine percent decrease from the MVR 4.5 billion recorded for the same period last year. Meanwhile, goods worth MVR 341 million were exported, a spike of 39 percent compared to MVR 246 million exported in March 2018.

However, statistics show that MVR 267 million were earned as import-export revenue in March, a four percent decline from the MVR 277 million earned in the same period last year.

The majority of imports were from Singapore at 16 percent, followed by the United Arab Emirates (15 percent) and China (12 percent). Statistics show that nine percent of goods were also imported from India and Ireland.

At 48 percent, the bulk of local products were exported to Thailand, while 10 percent of exports were made to Germany and nine percent to France. Exports to the United States accounted for eight percent, while six percent of goods were exported to the United Kingdom.